PHIL SIGN MARKING: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
PHIL SIGN MARKING
Largest movements
- Cash -€413,928
down €413,928 (-78.8%), from €525,209 to €111,281
mainly Trade debts (-€380,843) and Receivables within one year (-€189,056)
- Tangible fixed assets -€209,349
no longer reported in 2025 (was €209,349)
of which Plant, machinery and equipment: -€140,320
- Receivables within one year +€189,056
up €189,056 (+20.7%), from €915,145 to €1.1m
of which Other amounts receivable: +€478,943
- Trade debts -€380,843
down €380,843 (-78.4%), from €486,029 to €105,185
- Tax, wage and social debts -€55,245
no longer reported in 2025 (was €55,245)
- Profit (loss) carried forward +€37,563
up €37,563 (+4.7%), from €794,655 to €832,218
- Current portion of long-term debt -€25,747
no longer reported in 2025 (was €25,747)
- Gross operating margin -€287,454
down €287,454 (-77.8%), from €369,626 to €82,172
- Staff costs -€119,462
down €119,462 (-99.1%), from €120,502 to €1,039
- Depreciation -€66,564
down €66,564 (-87.6%), from €76,018 to €9,454
- Other operating charges -€19,279
down €19,279 (-71.2%), from €27,080 to €7,802
- Taxes -€14,801
down €14,801 (-42.3%), from €35,000 to €20,199
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,663,386 | €1,225,403 | -€437,982 | -26.3% |
| Fixed assets | 21/28 | €219,716 | €9,921 | -€209,796 | -95.5% |
| Tangible fixed assets | 22/27 | €209,349 | - | -€209,349 | |
| Plant, machinery and equipment | 23 | €140,320 | - | -€140,320 | |
| Furniture and vehicles | 24 | €67,604 | - | -€67,604 | |
| Other tangible fixed assets | 26 | €1,425 | - | -€1,425 | |
| Financial fixed assets | 28 | €10,368 | €9,921 | -€447 | -4.3% |
| Current assets | 29/58 | €1,443,669 | €1,215,483 | -€228,187 | -15.8% |
| Amounts receivable within one year | 40/41 | €915,145 | €1,104,202 | +€189,056 | +20.7% |
| Trade receivables | 40 | €445,098 | €155,212 | -€289,887 | -65.1% |
| Other amounts receivable | 41 | €470,047 | €948,990 | +€478,943 | +102% |
| Cash at bank and in hand | 54/58 | €525,209 | €111,281 | -€413,928 | -78.8% |
| Deferred charges and accrued income | 490/1 | €3,315 | - | -€3,315 | |
| Total equity and liabilities | 10/49 | €1,663,386 | €1,225,403 | -€437,982 | -26.3% |
| Equity | 10/15 | €1,082,655 | €1,120,218 | +€37,563 | +3.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €188,000 | €188,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €178,000 | €178,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €794,655 | €832,218 | +€37,563 | +4.7% |
| Amounts payable | 17/49 | €580,731 | €105,185 | -€475,546 | -81.9% |
| Amounts payable after more than one year | 17 | €13,711 | - | -€13,711 | |
| Financial debts | 170/4 | €13,711 | - | -€13,711 | |
| Amounts payable within one year | 42/48 | €567,021 | €105,185 | -€461,835 | -81.4% |
| Current portion of amounts payable after more than one year | 42 | €25,747 | - | -€25,747 | |
| Trade debts | 44 | €486,029 | €105,185 | -€380,843 | -78.4% |
| Suppliers | 440/4 | €486,029 | €105,185 | -€380,843 | -78.4% |
| Taxes, remuneration and social security | 45 | €55,245 | - | -€55,245 | |
| Taxes | 450/3 | €55,245 | - | -€55,245 | |
| Non-recurring operating income | 76A | - | €5,902 | +€5,902 | |
| Remuneration, social security and pensions | 62 | €120,502 | €1,039 | -€119,462 | -99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,018 | €9,454 | -€66,564 | -87.6% |
| Other operating charges | 640/8 | €27,080 | €7,802 | -€19,279 | -71.2% |
| Non-recurring operating charges | 66A | - | €35,447 | +€35,447 | |
| Gross operating margin | 9900 | €369,626 | €82,172 | -€287,454 | -77.8% |
| Operating profit (loss) | 9901 | €146,027 | €28,430 | -€117,596 | -80.5% |
| Financial income | 75/76B | €17,914 | €31,276 | +€13,362 | +74.6% |
| Recurring financial income | 75 | €17,914 | €31,276 | +€13,362 | +74.6% |
| Financial charges | 65/66B | €2,726 | €1,944 | -€782 | -28.7% |
| Recurring financial charges | 65 | €2,726 | €1,944 | -€782 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €161,215 | €57,763 | -€103,452 | -64.2% |
| Income taxes | 67/77 | €35,000 | €20,199 | -€14,801 | -42.3% |
| Profit (loss) for the period | 9904 | €126,215 | €37,563 | -€88,651 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | €126,215 | €37,563 | -€88,651 | -70.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.